Real Gross Domestic Product: State and Local in Montana
MTGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,424.00
Year-over-Year Change
7.88%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) generated by state and local governments in Montana. It's a key indicator of the overall economic performance and fiscal health of Montana's public sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Real GDP is a comprehensive measure of economic activity that adjusts for inflation. The state and local government GDP trend provides valuable insights into the size and productivity of Montana's public institutions and how they contribute to the state's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey and administrative records.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the fiscal position and economic influence of Montana's state and local governments.
Key Facts
- Montana's state and local GDP grew 2.8% in 2021.
- The public sector accounts for 12.4% of Montana's total GDP.
- Real state and local GDP has increased by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by state and local governments in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: It provides valuable insights into the size, productivity, and economic influence of Montana's public sector, which is closely monitored by policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to assess the fiscal position and economic contribution of Montana's state and local governments.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the Bureau of Economic Analysis, with some potential for minor revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Montana (MTGOVSLRGSP), retrieved from FRED.